Observer Money

Allexer Namundjebo The Central Procurement Board of Namibia (CPBN) has awarded public procurement contracts valued at N$7.5 billion over the past eight years.These contracts have been issued since the board’s establishment in 2017. The figure was revealed on Monday during the CPBN board stakeholders' engagement with current contractors. CPBN board member Julinda !Garus-Oas said the amount includes N$1.3 billion for 36 contracts awarded for goods, N$1.9 billion for 80 service contracts, and N$4.4 billion for 63 projects. Opening the session, CPBN board chairperson Mary Shiimi stressed that procurement plays a key role in national development.  She said contracts with CPBN…

Chamwe Kaira Namibia’s mining sector has continued to show resilience despite a weak global economy, the Chamber of Mines of Namibia said in its July monthly update. Global growth in early 2025 has been subdued, with major economies such as the United States and the United Kingdom slowing, while emerging markets have delivered mixed results.  Rising inflation, trade volatility, and falling external demand led the Bank of Namibia (BoN) to revise its growth forecast for 2025 from 3.8% to 3.5%.  The chamber stated that the contraction in agriculture and diamond mining had an impact. Mining, however, remains the backbone of…

Allexer Namundjembo Stabilisation in the South African rand and favourable external price trends are expected to drive Namibia’s inflation lower in 2025. The Bank of Namibia (BoN), at its recent Monetary Policy Dialogue, projected inflation to ease from a five-year average of 4.3% to 3.8% in 2025.  The dialogue took place under the theme, "35 Years of Monetary Stewardship: Enhancing Policy Resilience in a Changing Economic Landscape."  In July, the country's inflation was 3.5%.  “This downward trajectory reflects both domestic policy discipline and favourable external price developments,” said BoN governor Johannes !Gawaxab. Inflation previously peaked at 6.0% in October 2023,…

Chamwe Kaira  A proposed offshore petroleum safety regulator wants to have the power to impose fines and penalties and shut down operations when necessary in the oil and gas sector.  The regulator would go beyond compliance and safety audits by enforcing strict measures to ensure accountability in the sector. “The Offshore Petroleum Safety Regulatory body will not just oversee compliance and conduct safety audits but will have the authority to impose penalties, fines and shutdown operations when necessary,” said the founder of the Erongo Offshore Safety Conference, Knowledge Ipinge, who recently spoke at the Namibia Oil and Gas Conference in…

Staff Writer Mobile Telecommunications Limited (MTC) has intensified its commitment to digital inclusion with the launch of a rural network optimisation initiative following a comprehensive audit in northern Namibia. The audit covered more than 2 000 kilometres across Outapi, Oshakati, Rundu, and Katima Mulilo.  It aimed to identify coverage gaps and service quality challenges in underserved and uncovered rural areas, where customer complaints about poor signal and inconsistent data access have been increasing. Led by MTC's chief for technology and information, Monica Nehemia, and conducted in collaboration with network partner Huawei, the audit revealed infrastructural and technical shortcomings.  Some towers…

Staff Writer  Momentum Metropolitan Namibia has been named best life insurance company of the year for the second consecutive year at the Momentum Africa Awards. Out of 41 awards across Africa, Namibia secured 24, leading the continent in recognition.  “This achievement is not only a triumph for our business, but it is a victory for every Namibian who entrusts us with their future. It is their dreams, their resilience and their belief in us that drive our success,” Momentum said in its announcement on Monday. “This recognition reflects the collective strength of Namibian excellence. From Windhoek to every corner of…

Allexer Namundjebo The director of banking services at the Bank of Namibia (BoN), Sencia Kaizemi-Rukata, says any shop or merchant refusing to accept the five-cent coin  should be reported. She reminded retailers that the coin remains legal tender.  Kaizemi-Rukata was speaking at the economic reporting workshop hosted by BoN on Monday. “If there is any shop refusing to accept the coin or South African rand, those shops must be reported so that appropriate actions are taken,” she said.  She stressed that although the minting of the five-cent  coin stopped in 2018, it has not affected its legal status. “The five-cent…

Chamwe Kaira  Uranium is exempt from new  US tariffs because of its strategic importance to the United States, Bank of Namibia (BoN) governor Johannes !Gawaxab has said.  Speaking during a monetary policy dialogue in Windhoek, he explained that minimal impact is expected on uranium due to existing contractual obligations.  He added that uranium will also benefit from the weaker exchange rate, which will improve revenue and profitability. He noted that no tariffs were previously applied to diamonds, which helped natural diamonds remain competitive against cheaper lab-grown diamonds.  “The introduction of a 15% tariff will potentially negatively affect export volumes and…